FIRST AIRED: August 30, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> US President Donald Trump on Wednesday turning to the topic of tax reform. Trump traveling to Springfield, Missouri where White House officials say he will deliver a message to the middle class that he hopes to help those in an economy quote, rigged against them. As a candidate, Trump proposed simplifying and shrinking the number of income tax brackets and slashing corporate tax rates from 35 to 15%.
00:00:23
>> Fixing our broken tax code is one of the main reasons I'm running for president.>> But senior officials saying the speech on Wednesday will be about why tax reform is needed, not about how to reform the system. The 70,000 page US tax code was last overhauled in 1986.
00:00:42
Trump's turn to taxes coming as his domestic policy agenda spins its wheels. Republican infighting ended hopes for a hasty overhaul of the healthcare system. Trump's aides and Republicans in Congress are trying to hammer out details of a tax plan in closed door meetings in Washington, the prospects for passage anytime soon seem distant.
00:01:00
Lawmakers returning from recess next week face a raft of pressing issues, including raising the debt ceiling, and avoiding a government shutdown. Democrats likely to respond to any talk of taxes with their demand that Trump finally release his returns.